By LORI PARHAM

We’ve all heard the saying, “Every dark cloud has a silver lining.”

During these times of economic recession, we’ve seen neighbors reach out to help neighbors. We’ve seen families helping each other, and we’ve seen an increase in volunteers in communities across Florida.

That’s the silver lining. But there’s a darker side.

As Florida continues to struggle with weak housing markets, high unemployment and the lingering effects of a volatile stock market, Florida’s retirees are become tempting targets for unscrupulous people.

They move in to take advantage of older Floridians who have seen their retirement savings dwindle. These scam artists promise better investments using fraudulent annuities to rob people of their life’s

savings.

Around the state, we’ve heard from older Floridians who have been misled into making tragic investment decisions.

I commend Sen. Mike Bennett, R-Bradenton, for sponsoring Senate Bill 844 and Rep. Maria Lorts Sachs, D-Palm Beach, for sponsoring House Bill 825,

which stiffens penalties for those convicted of defrauding seniors through annuities products. Under this legislation, annuities fraud would become a felony, rather than a misdemeanor. It would also extend the “free look” period for the purchase of an annuity by a senior consumer from 14 to 30 days and authorize the state to require an agent to make monetary restitution to a senior consumer they’ve harmed.

The state’s CEO, Alex Sink also deserves a wholehearted “thank-you” for creating the Safeguard Our Seniors Task Force to raise awareness of fraud. It’s time to punish those who steal from our

neighbors in ways that will get their attention.

I urge Floridians who have been victimized by dishonest agents to share their stories. It will help today’s victims and those who might be targeted in the future.

I know it’s not easy to share your private stories. But it is very important. If you know of annuities fraud or you have experienced it, call CFO Sink’s toll-free hotline at 877-693-5236.